Funding round
Icertis Series B
Icertis, which works in contract lifecycle management platform development in Bellevue, raised $15M in a Series B round announced on 10 Mar 2016, led by Ignition Partners. 3 firms took part. It is Icertis' second venture round on record; the one before was a Series A in Apr 2015.
$15M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Icertis did not disclose a valuation in this round. It came 11 months after Icertis' Series A. It is 4.4% of the $341M Icertis has raised in the venture rounds on record. Icertis raised again 12 months later: a Series C round of $25M in Mar 2017. Its next priced round, a Series E in Jul 2019, valued it at $1.00B.
Icertis' funding rounds
Icertis has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 28 Apr 2015, led by Greycroft and Fidelity Growth Partners India $6.0M
- Series B this round 10 Mar 2016, led by Ignition Partners $15M
- Series C 29 Mar 2017, led by B Capital $25M
- Series D 8 Feb 2018, led by Meritech Capital $50M
- Series E 17 Jul 2019, led by Greycroft and Premji Invest $115M$1.00B post-money
- Series F 11 Mar 2021, led by B Capital $80M$2.80B post-money
- Debt not a venture round 31 Oct 2022, led by Silicon Valley Bank $150M
- Growth 1 Mar 2025 $50M
Investors
Who put money in
Ignition Partners led the round with 2 other firms.
Lead investor
- backs 38 venture-backed companies new investor
Also in the round
- Greycroft backs 236 venture-backed companies new investor
- Fidelity Growth Partners India new investor
Joined the board: John Connors (Ignition Partners).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
252 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was close to the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 17 Mar 2016 | $36M | not disclosed | Partech |
| Tech Companies | 16 Mar 2016 | $30M | not disclosed | not named |
| Tech Companies | 23 Mar 2016 | $25M | not disclosed | Maverick Capital Ventures |
| Tech Companies | 22 Mar 2016 | $14M | not disclosed | Jump Capital |
| Tech Companies | 7 Mar 2016 | $10M | not disclosed | Index Ventures |
| Tech Companies | 21 Mar 2016 | $7.3M | $42M | Foundry |
| Tech Companies | 8 Mar 2016 | $2.1M | not disclosed | not named |
| Tech Companies | 9 Mar 2016 | undisclosed | not disclosed | Osage University Partners and ENGIE New Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Icertis raise in its Series B round?
Icertis raised $15M in its Series B round, announced in Mar 2016.
Who led Icertis' Series B round?
Ignition Partners led it, with Greycroft and Fidelity Growth Partners India.
What was Icertis' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
252 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $15M, and this round was close to the median.
Did Icertis raise again after this round?
Yes: a Series C round in Mar 2017 of $25M.